Though SMS-based OTP for authentication is now quite popular, it is not foolproof. With the proposed principles, RBI wants to encourage alternative methods ...

The banking regulator RBI has issued a draft framework and sought comments from financial and tech platforms to explore and adopt other authentication mechanisms besides the SMS-based OTP method ...

Another OTP-free method gaining traction is Silent Network Authentication (SNA), which uses mobile carrier technology to verify phone number ownership without any input from the user.

with victims losing at least $14.2 million in total, according to annual police figures. The use of OTP was introduced in the 2000s as a multi-factor authentication option to boost online security.

With this new face authentication feature, IPPB aims to simplify digital banking by allowing users to authenticate transactions using just their face. The system has been built on UIDAI’s robust ...